SHIFTING GEARS TO GO ELECTRIC
Rising and volatile diesel prices – fuelled by recent disruptions in global energy markets – are eating into operating margins, prompting more firms to explore electric alternatives.
EV supplier Hong Seh Group told CNA that demand for electric vans, minibuses and light-duty lorries has been growing steadily.
The company, interpreting data from the Land Transport Authority, noted that such vehicles comprised about 25 per cent of all vehicle registrations last year. Just six months into this year, this figure has hit 33 per cent.
“The vehicles have gotten better,” said Mr Edward Tan, executive director of Hong Seh Group.
“(There is) more technology inside them … The safety features, which are provided within the vehicles to protect not just the passengers but also the asset of the vehicle itself, have also increased.”
The company said customers are attracted by lower running costs, with fuel savings helping to reduce operating expenses by as much as half.
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